Gov. Nixon plans Missouri revenue review in March

JEFFERSON CITY — Gov. Jay Nixon says he plans to take a new look in March at whether Missouri needs to lower its revenue forecast and make additional budget cuts.

Nixon already has made more than $700 million in cuts because tax revenues have fallen short of projections.

Missouri's budget assumed there would be slight growth in state revenues this year.

But in January, state officials revised their revenue forecast to a 6.4 percent decline. Now even that appears optimistic.

Through January, state revenues were down 12.5 percent for the first seven months of the fiscal year. Nixon said he wants to see February figures before considering whether the revenue forecast needs to be revised again.